Big Data and Value Report

Big Data

Big Data and Value Report

Student Number:

Unit Number: ABS207

Assignment Number: 1

Word Count: 1,544

Due Date: 30th July 2023

Table of Contents

TOC h u z t "Heading 1,1,Heading 2,2,Heading 3,3,"1. Organisation Description3

2. Current Data State3

3. Critical problems or decisions4

4. Unanswered Questions6

5. Value of data6

6. Data types and sources7

REFERENCES9

Organisation Description

George Weston Foods' Tip Top was established by merging several small restaurants in New South Wales and Victoria. With a workforce of over 5,000 employees nationwide, the company has successfully developed renowned brands such as Sunblest, 9Grain, and The One throughout its existence. Tip Top Bakeries, managed by George Weston Foods, holds the distinction of being Australia's largest baker, producing an array of baked goods, including bread, muffins, and cupcakes. Remarkably, Tip Top bakes, distributes, and sells nearly a hundred million pieces of bread daily, making it a significant player in the Australian bakery industry.

The company boasts a sales force and marketing team comprising approximately 1200 employees, serving the food products sector, a part of the consumer goods industry (Saurine, 2014). Its diverse product portfolio includes bakery nibbles, gourmet bread, muffins, crumpets, and cakes, catering to a broad range of consumers. Its major rivals are Sonoma Bakery Co., Tip Green's General Foods, Suprima Bakeries Pty Ltd., and Cripps, all vying for prominence in the competitive bakery market.

2. Current Data State

Tip Top bakeries can gather & utilise biometric details, including scanning of an individual's finger & location data, if that individual is a contractor (or someone employed by a contractor) functioning at a GWF site. The data will be gathered in compliance with the aforementioned Policy & utilised for payroll, timekeeping, & attendance reasons. Every biometric data will begathered via a secure system that is digitally protected & to whom only staff members whose jobs necessitate entry have access. After a contractor's relationship with GWF has ended, all biometric data is carefully erased. Gps technology for tracking is additionallyused by GWF for timekeeping, to maintain safeguards for the safety of suppliers, & to help it meet its statutory obligations (Rijmenam, 2014). One might be neededto enable GPS services when completing the agreed-upon services because every piece of location data wouldbe gathered using geo-location technology on gadgets, including cell phones, laptops, plus in-car gadgets (Bakeries, 2019).

When it pertains to the delivery of one's offerings to GWF, every bit of data shall be gathered according to the provisions of thePolicy & utilised for the management of employees, payroll, retirement savings, safety & health,safety management insurance coverage,& contact details. Photographs might also be incorporated into court cases. Itmightemploy automated data-collecting techniques on the company's platformsto gather specific information regarding anyone'sdevice, surfing habits, & behaviour. Usage monitoring software, Cookies, and log files& are some of the tools that itemploysfor this automated gathering of information (PWC, 2014).

Tip Top Bakeries can also use internal data; anything thecompany presently has or potentially have access to is internal data. Thecompany will own & control the very confidential or sensitive information. Internal data has the advantage of typically being less costly& free to access. Additionally, itisthe data owner & doesn't need to worry about obtaining it (PWC, 2014). Finally, the fact that theinternal data will be fully customised for thebakery company only is what gives it its true worth. Business applications and communication information, for instance, are both applicable.

3. Critical problems or decisions

Adverse cashflow- There are several expenditures, as well as with generous loans, investments, & contributions, the companyisn't going to be capable of successfully running thefirm without adequate cash flow. One may maintain a +ve cash flow in numerousmanners. It isadvisedto lay a strong foundation with the help of big data analytics & creating a reliable financial prediction. Itcould see all of itsinflows& outflowsof money with the help of big data analytics. In actuality, itimplies that the companywill be informed beforehand if itsprofits will exceed itsexpectations or if they won't, allowing itto implementa contingency strategy quickly. Itmay maintain a +ve financial position indifferent ways. It isadvisedto lay a strong foundation & creating a reliable cash flow prediction with the help of big data analytics.

Businesses that serve to emerging specific markets or improve their market share of current markets profit from data-driven innovation's boost in sales (Minelli & Dhiraj, 2013). Additionally, bakerybusinessescan benefit from cost-effective marketing, activities, delivery, & development of products. Additionally, there are environmental advantages. For instance, data may be utilised to streamline freight routes & cut down on truck miles driven.

The transportation of over 1million freshly baked goods from 11 bakeries to 100 distributing hubs, then over twenty thousand client places, is an issue for Tip Top Bakeries. Around eighty per cent of Tip Top's transportation expenses are related to "last mile" transportation, the stage of the manufacturing process where its goods aredelivered to clients (Minelli & Dhiraj, 2013). Every year, Tip Top spends more than dollar one hundredmillion on transportation, whichaccounts for thirty to forty per cent of the cost of goods supplied. Thus as a solution together with National ICT Australia Ltd, Tip Top canminimise freight lengths & improve choices regarding routing by using information from its transportation systems & client information.

4. Unanswered Questions

The unanswered questions include Is it possible to find out who is communicating with the content and what their age ranges are? It's pretty challenging at the moment. Additionally, concluding without the raw data's context is much harder. That isn't a computer program that can achieve this as of yet. The other question that remains unanswered is which findings could be made from the analysis of huge amounts of data. Which inferences cannot be drawn? Sadly, huge data contains no secret to life, the cosmos, or anything else. The inferences we can derive from big data sets are inherently constrained by the gap between real life & the digital realm (Minelli & Dhiraj, 2013). Digital action rarelytranslates into a change in the actual environment. Big data's worth resides not in the specifics & minutiae but instead in its capacity to find patterns in extraordinarily vast data sets.

For Tip Top Bakeries, providing excellent customer service is a top priority. However, office administration is also a crucial component of operating a successful company, so it's critical to learn about & adhere to OSHA's workplace safety regulations. Another important business priority is maintaining an eye on your workforce (Minelli & Dhiraj, 2013). When staff is managed effectively, businesses expand more. Employee management involves listening to what they have to say, fixing issues, conducting periodic evaluations, & assigning tasks to the most qualified individuals.

5. Value of data

Big Data is the culmination of everymethod& machinery utilised to work with & handle vast amounts of data. To encompass patterns, choicesin the enormous database produced by individuals' interactions with various networks& one another gave rise to the idea of big data. Because of huge data, business organisations could use statistics to determine who their most valuable customers are. It also helps businesses create novel experiences, remedies, and products. Additionally, data analytics empowers businesses to make quicker, more educated business decisions &refrain from spending funds on poor business practices, unsuccessful marketing initiatives, or untested ideas for novel goods & services. Companies could more quickly detect patterns, developments & then tailor their goods or services to satisfy these requirements by analysing data gathered from specific markets. Tip Top will be more capable of increasing client loyalty, guaranteeing they are satisfied, & increase revenueas long as it understands who its consumers are & the things they need.

A commercial organisation may comprehensively characterise these clients thanks to big data. Itenables a company to have a direct, ongoing dialogue with customers. The companycan also visualisethe complete data environment within the firm using big data techniques (Marr, 2017). Itenables itto assess various internal dangers. With the help of the supplied data, it can protect sensitive data. It is properly protected & maintained in compliance with the law.

The companycan understand big data by studying the market & customers. Nevertheless, this information is relevant for different parties and the company. Data analytics enables companies to comprehend their present target market, foresee &spot goods or services that have shortages, & create new offers to fill those requirements.

6. Data types and sources

The types of data we'll employ to carry out our company plan:-

Structured Data- Most of the people are accustomed to dealing with structured data, which is frequently categorised as quantitative data. Structured Data can be used for relational databases holding data, which couldbe controlled, stored, & accessed in enormous sizes. It can be used for reviews, pricing information, &the quantity of commodities' SKUs. Structured data is kept in relational database management systemsor Microsoft Excel and has a predetermined arrangement of columns & rows (Pickell, 2023).

Unstructured Data- Because unstructured data cannot be processed or analysed using traditional data tools and methodologies, it is typically categorised as qualitative data. Employing data mining algorithms on unstructured data from retail websites, businesses like Tip Top Bakery can learn more about customer purchasing patterns, attitudes towards a certain product, shopping habits and timing, and much more (Pickell, 2023).

Also, to enhance & track the protection & safety of GWF employees, contractors, and assets,as well as to examine & track adherence to legal obligations & GWF rules, surveillance cameras could be utilised for recording hisvisit to a GWF location. These surveillance cameras must bestrategically placed both inside & outside of the place of employment.

We will use the following data sources:- Internal data sources could be used, for example, communication data, business applications, business operations data etc. (Pickell, 2023). External data sources could also be used here, which will assist in obtaining information via government data like census data, via website data like youtube, and Instagram, via Sensor data like weather etc.

REFERENCES

Bakeries, T. T. (2019). Privacy Policy. Retrieved from TipTopBakery: https://www.tiptopbakery.co.nz/privacy-policy/

Marr, B. (2017). How to profit from a world of big data, analytics and the internet of things . Retrieved from Sutlib: http://sutlib2.sut.ac.th/sut_contents/H173714.pdf

Minelli, M., & Dhiraj, M. C. (2013). Big data, big analytics: emerging business intelligence and analytic trends for today's businesses. John Wiley & Sons.

Pickell, D. (2023, May). Structured vs. Unstructured Data: What's the Difference? Retrieved from G2.com: https://www.g2.com/articles/structured-vs-unstructured-data

PWC. (2014, September ). How data-driven innovation is fuelling Australias economic growth. Retrieved from pwc.com: https://www.pwc.com.au/consulting/assets/publications/data-drive-innovation-sep14.pdf

Rijmenam, M. v. (2014, April). Think Bigger - Developing A Successful Big Data Strategy for your business. Retrieved from Researchgate : https://www.researchgate.net/publication/310845739_Think_Bigger_-_Developing_A_Successful_Big_Data_Strategy_for_your_business

Saurine, A. (2014). Tip Top bread manufacturer celebrates 50 year anniversary of bakeries in Australia. Retrieved from dailytelegraph: https://www.dailytelegraph.com.au/news/nsw/tip-top-bread-manufacturer-celebrates-50-year-anniversary-of-bakeries-in-australia/news-story/2e2b9384ab5e1d29b2491a1c3c0a727e